Global Journal of HUMAN-SOCIAL SCIENCE: F
Political Science
Volume 15 Issue 1 Version 1.0 Year 2015
Type: Double Blind Peer Reviewed International Research Journal
Publisher: Global Journals Inc. (USA)
Online ISSN: 2249-460x & Print ISSN: 0975-587X
A Critical Analysis of the Institutional Outcomes of Nigeria’s
Economic Diplomacy
By Fasunwon Adebayo Folorunso
Adekunle Ajasin University, Nigeria
Abstract- Economic Diplomacy was used as a an instrument of foreign policy execution in
Nigeria with the aim of achieving national development. This study, while using the political
economy approach therefore, investigated the institutional outcomes of this instrument in areas
of debt management, Gross Domestic Product (GDP employment, and external reserves.
Secondary sources of data which include publications of Central Bank of Nigeria, Africa Peer
Review Mechanism country report and press reports were used to critically analyse the observed
institituional outcomes of economic diplomacy. Economic diplomacy resulted in reduced debts,
increases in the nation’s GDP, and external reserves. However, the level of poverty and
unemployment was not positively affected by economic diplomacy. This study therefore
recommends that subsequent employment of economic diplomacy should be targeted at the
substantial improvements of the peoples’ socio-economic status.
Keywords: economic diplomacy, gross domestic product, outcomes, poverty.
GJHSS-F Classification : FOR Code: 360199
ACriticalAnalysisoftheInstitutionalOutcomesofNigeriasEconomicDiplomacy
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© 2015. Fasunwon Adebayo Folorunso. This is a research/review paper, distributed under the terms of the Creative Commons
Attribution-Noncommercial 3.0 Unported License http://creativecommons.org/licenses/by-nc/3.0/), permitting all non-commercial
use, distribution, and reproduction in any medium, provided the original work is properly cited.